Andy Burnham, frontrunner for UK PM, outlined his policy vision in Manchester, vowing to rebalance power to regions, maintain fiscal discipline, and reduce the welfare bill. He aims for "good growth in every postcode" and faces economic challenges.
West Bengal's BJP government presented its first budget, announcing a 20% DA hike for state employees, 1 lakh government job recruitments, and a Rs 36,000 crore direct cash transfer scheme for women aged 25-60. Finance Minister Swapan Dasgupta highlighted efforts to restore fiscal discipline and build a corruption-free administration.
UK gilts and sterling face pressure as investors fear a potential left-leaning prime minister, Andy Burnham, may challenge Keir Starmer's leadership, threatening fiscal discipline and adopting a confrontational stance towards bond markets.
UK long-term bond yields hit 28-year highs amid Labour leadership uncertainty and Reform party's electoral gains, sparking investor concerns over potential leftward shift and looser fiscal policies.
UK long-term bond yields hit 28-year highs amid Labour leadership uncertainty and Reform party's election gains, triggering investor concerns over potential leftward shift, higher borrowing, and spending.
Malaysia’s plan to stop wealthier drivers from enjoying cheap subsidised petrol has left Prime Minister Anwar Ibrahim facing a politically fraught question: how to define “rich” without punishing households already squeezed by higher living costs. The issue has sharpened as the Middle East energy shock strains government finances, forcing authorities to weigh fiscal discipline against the risk of angering middle-class voters in a car-dependent country. Anwar said the government had agreed in...
